Kintegral Advisory LLC Sells 5,556 Shares of American Tower Corporation (NYSE:AMT)

Kintegral Advisory LLC reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,330 shares of the real estate investment trust's stock after selling 5,556 shares during the quarter. Kintegral Advisory LLC's holdings in American Tower were worth $2,465,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMT. Norges Bank acquired a new stake in American Tower during the 4th quarter worth approximately $1,164,851,000. Cohen & Steers Inc. increased its position in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after buying an additional 3,437,602 shares during the period. Capital Research Global Investors increased its position in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the period. Capital World Investors lifted its holdings in shares of American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after buying an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after acquiring an additional 1,694,784 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 0.5%

Shares of NYSE AMT opened at $221.75 on Friday. The firm has a 50 day moving average price of $216.24 and a two-hundred day moving average price of $204.55. The stock has a market cap of $103.81 billion, a P/E ratio of 57.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 earnings per share. American Tower's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.07%. American Tower's payout ratio is 174.81%.

Analysts Set New Price Targets

A number of research firms recently commented on AMT. Wells Fargo & Company raised their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $240.25.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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